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View Policies Current Attempt in Progress Flint Corporation's unadjusted trial balance at December 1, 2022, is presented below. Debit Credit Cash $22.900 Accounts Receivable 34.400

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View Policies Current Attempt in Progress Flint Corporation's unadjusted trial balance at December 1, 2022, is presented below. Debit Credit Cash $22.900 Accounts Receivable 34.400 Notes Receivable 9.000 Interest Receivable 0 Inventory 37 500 Prepaid Insurance 4.200 Land 18,900 Buildings 150,000 Equipment 66,000 Patent 9,000 Allowance for Doubtful Accounts $400 Accumulated Depreciation-Buildings 50,000 Accumulated Depreciation-Equipment 26,400 Accounts Payable 25,200 Salaries and Wages Payable 0 Notes Payable (due April 30, 2023) 11,000 Income Taxes Payable 0 Interest Payable O Notes Payable (due in 2028) 33,900 Common Stock 50,000 Retained Earnings 45,500 Dividends 12,300 Sales Revenue 864.000 Interest Revenue 0 Gain on Disposal of Plant Assets 0 Bad Debt Expense Cost of Goods Sold 574,000 Depreciation Expense 0 Income Tax Expense 0 Insurance Expense 0 Interest Expense Other Operating Expenses 64,200 Amortization Expense 0 Salaries and Wages Expense 104,000 Total $1,106,400 $1.106.400 0 The following transactions occurred during December Dec.2 Purchased equipment for $16,400, plus sales taxes of $900 (paid in cash). 2 Flint sold for $3,500 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2022, was $1.900; 2022 depreciation prior to the sale of equipment was $875. 15 Flint sold for $5,500 on account Inventory that cost $3,700. Salaries and wages of $6,400 were paid for December 23 Adjustment data: 1 Flint estimates that uncollectible accounts receivable at year-end are $4,100. 2 The note receivable is a 1-year, 8% note dated April 1, 2022. No interest has been recorded. 3. The balance in prepaid insurance represents payment of a $4,200, 6- month premium on September 1, 2022. The building is being depreciated using the straight-line method over 30 years. The salvage value is $30,000 5. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. 6. The equipment purchased on December 2, 2022. Is being depreciated using the straight-line method over 5 years with a salvage value of $1,700 7 The patent was acquired on January 1, 2022, and has a useful life of 9 years from that date. B. Unpaid salaries at December 31, 2022, total $2,200. 9. Both the short-term and long-term notes payable are dated January 1, 2022 and carry a 10% interest rate. All interest is payable in the next 12 months 10 Income tax expense was $15,000. It was unpaid at December 31 Prepare journal entries for the transactions listed above and adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record Journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit (To record depreciation expense on equipment.) To record sale of equipment.) (To record sales revenue) (To record cost of goods sold) 1 2. 3. 5. 6. 7. 8. 9. 10. Textbook and Media Lith

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